Turmeric settled down due to increased supply of new crop from the producing belts. There are reports of production concern due to drought in Maharashtra and Andhra Pradesh. There is concern over production due to heavy rains during Nov-Dec in south India.

Economic News

A digital platform for enabling farmers to sell their produce at a better rate anywhere in the country will be launched on April 14, Prime Minister Narendra Modi announced as he resolved to ensure doubling of the farmers' income by 2022.Modi, who unveiled guidelines for the recently-launched Prime Minister's Crop Insurance Scheme at a rally here, said this was one of the various initiatives of his government aimed at ensuring the welfare of the farmers who have been in distress due to vagaries of weather

National Market Update

The combined sugar production of Andhra Pradesh and Telangana fell down by 12% as the states produced 5.50 lakh tons of sugar in 2015-16 (01st Oct, 2015 – 15th Feb, 2016) compared to 6.25 lakh tons of production in 2014-15 (01st Oct, 2014 – 15th Feb, 2015).

Tamil Nadu had produced 4 lakh tons of sugar in 2015-16 (01st Oct, 2015 –15th Feb, 2016) which was 0.75 lakh tons higher than the sugar produced last year during the same interval.

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